HSBC to stay in Canary Wharf
HSBC will be staying in Canary Wharf, at least for the next three years.
The banking giant decided to retain its London headquarters following a review published just before Christmas.
The review, overseen by chief executive Stephen Green and chairman Michael Geoghegan, concluded London was still the most appropriate location for the headquarters of a financial institution of its scale.
HSBC carry out a review, usually lasting several months, every three years. The decision will be welcome news for Canary Wharf after the recent gloomy economic situation.
The bank regained possession of its Canada Square headquarters in November after Spanish property company Metrovacesa, who bought the building for a record £1.1billion in 2007, was unable to refinance its loan.
HSBC, along with Barclays, was one of the few UK banks not to need government cash to help see it through the current financial crisis.
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